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Joint venture partnership is an interesting side of real estate success both in Nigeria and world over till date.
A terse definition of joint ventures will be “a synergetic contract between individuals or group of persons (corporate bodies) that have agreed to work together to achieve a certain set goal for the common benefits of the parties.
It is also built upon a platform where these contracting parties accept to complement each other especially in a situation where they can not be able to embark on the said project independently.
These factors are as follows:
A) Both parties must establish the importance of the Joint Ventures and what they stand to benefit from it. This is anchored on the grounds that the parties come to terms with what they have to invest in their various capacities which will form the basis of further terms of contract.
B) On the premise of the above, there is the need for a substantial legal framework for proper agreement that will be put in the books empowered by legal instruments and signed by a reputable lawyer. This is then considered as the confluence of the partnership and a working tool.
C) Everything on earth works at the currency of time. In other words a timeline is very important as it will serve as a guide and that will determine and measure the success of the Joint Venture.
D) Another very important factor is profit or reward of the use of land and a working percentage of how this is shared among the parties based on their inputs. This very factor is about the cardinal purpose for which the Joint Venture partnership is established.
Even though these are not the exhaustive checklist of what Joint Venture Partnership entails but the above will create the necessary platform. They are not without drawbacks at various stages but fundamentally working on these will provide sufficient security needed.
If you are interested to partnership with our company as an Agent call/text to me through 08033979778 or send a mail richguydollars@yahoo.com
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